Australian exploration review 2016
Steve MackieGeosim Consulting Pty Ltd, 112b Sydenham Road, Norwood, SA 5067, Australia. Email: steve.mackie@geosimconsulting.com.au
The APPEA Journal 57(2) 363-371 https://doi.org/10.1071/AJ16254
Accepted: 2 March 2017 Published: 29 May 2017
Abstract
In 2016, explorers in Australia were called upon to demonstrate realistic optimism. The year clearly demonstrated that during an industry contraction, such as that seen by the upstream oil and gas industry since the oil price crash of late 2014, near field conventional exploration still produces discoveries. These include Shefu, Muruk, Davis, Outtrim and Spartan. Amungee NW demonstrated unconventional gas flows in the Beetaloo Basin. As usual, new reservoirs were discovered in appraisal programs such as at Roc and Phoenix South.
Exploration lows, however, were the general mood with the inevitable unsuccessful wells, decreases in permit awards and associated work programs, the general low level of drilling activity both offshore and onshore, frustrations at approval delays and constraints and the still contracting business environment.
This Petroleum Exploration Society of Australia review looks in detail at the trends and highlights for oil and gas exploration both onshore and offshore Australia during 2016; not just outcomes with the drill bit, but also leading industry health indicators such as drilling, seismic data acquisition and permit awards. It also seeks to be insightful and to make conclusions about the condition of oil and gas exploration in Australia, as well as comment on future implications for the industry.
Keywords: Amungee NW, Bedout, Beetaloo, Bight, Browse, Carnarvon, Cooper/Eromanga, Davis, discoveries, Gippsland, Muruk, oil and gas, Outtrim, permits, petroleum, Phoenix South, Roc, Roebuck, seismic, Shefu, Spartan, wells.
Dr Steve Mackie has a BSc, MBA and PhD together with 40 years’ experience in the upstream petroleum industry functioning in both regional and field specific geoscience and engineering in both senior technical and executive roles. As well as running his own successful consultancy he has worked for multinationals and local explorers. He has been forming, managing and developing asset teams, including virtual teams, associated with exploration and development geoscience and engineering for the last 20 years. He is an Adjunct at the Australian School of Petroleum, University of Adelaide; Vice Chairman of the Advisory Board to the Australian School of Petroleum; Chairman of the APPEA Technical Program Committee; and Editor of the APPEA Journal. Steve is the Federal President of the Petroleum Exploration Society of Australia (PESA) and a distinguished lecturer for the Society of Petroleum Engineers (SPE) 2016/17 season. He is an honorary member of APPEA and an active member of SPE, AAPG and EAGE. |
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